Interstate Waste Services Expands Lease At Glenpointe Centre East In Teaneck, NJ
300 Frank W Burr Blvd, Teaneck, Nj 07666, Usa
$37
$37/SF
Building Size
18 SF
Asset Type
Office
Closing
May 9, 2023
AI
Interstate Waste Services has expanded its lease at Glenpointe Centre East in Teaneck, New Jersey, increasing its total office space to nearly 18,000 square feet. The waste collection and recycling firm, which has been a tenant at Glenpointe since 2013, needed additional space to support its customer service team due to significant growth in recent years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 300 Frank West Burr Boulevard, Teaneck
- Market: Teaneck
The landlord for this lease agreement is Alfred Sanzari Enterprises, represented by Carolina Gutierrez. On the tenant's side, Interstate Waste Services is represented by Andrew Zezas of Real Estate Strategies Corp. Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian, and David Simson of Newmark served as the landlord's representatives in the deal.
Players
New Jersey Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
428729.73%
Cash-on-Cash
-122532.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93